Saturday, December 03, 2011

An extreme idea for Euroland ---kick Greece out

I have an idea that is probably not possible, but eliminating Greece from Euroland would be a big positive step. It's a wonderful little country, but with a culture of fraud, tax evasion, patronage excesses, and major shipping companies that maintain most of their assets offshore and rarely honor their financial commitments, and all of this rivals few supposedly cultured countries in the world. We are almost talking Nigeria and Zambia here.

Other Euroland countries with challenges have faced up to their challenges, like Iceland and more recently to some extent Ireland. Others under pressure like Portugal, Italy, and Spain have serious educated leaders and populations that may hate austerity measures but will fight for growth through their problems. Greece is essentially hopeless.

Kick it out, let the banks take their losses for failing to look through the Euro currency at the profiligacy of Greece, and let's get on with it. A few failed banks in France and Germany will not destroy the world economy. Letting this charade drag on could.

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